Williams sat out Wednesday after hobbling off the field in the final minute of Sunday's win over San Francisco. Coach John Fox provided no update on his condition.
After rushing for more than 1,100 yards last season, Williams has been held to 367 yards on 87 carries in six games this season.
The Panthers were still without right tackle Jeff Otah, who hasn't played or practiced this season because of a sore knee.
Defensive end Tyler Brayton missed practice Wednesday for a personal matter, but Fox says he'll return Thursday.
Williams hasn't played since he sustained a spinal concussion in a collision while playing on special teams against New Orleans on Sept. 26. Williams was cleared to practice on Oct. 6, but was sidelined the next day after more tests and hadn't returned to the field.
Fox says Williams, acquired from Chicago in the offseason, wouldn't have been able to play for six to eight weeks.
The 28-year-old Hodge played in all 16 games for Cincinnati last season, but was let go in final cuts before the start of the regular season.
Information from The Associated Press was used in this report.